Alabama

Tronox to be listed on New York Stock Exchange

South African mining company Exxaro said on Monday it would list New Tronox, its $3.4 billion paint-making ingredient joint venture, on the New York Stock Exchange next week.

Exxaro, whose main focus is coal mining, said last year it would sell its mineral sands operations to Oklahoma City-based pigment producer Tronox Inc. for a 38.5 percent stake in the new entity.

Tronox, a maker of titanium dioxide, an ingredient in paint, paper and plastics, has a shuttered plant on the north bank of the Theodore Industrial Canal that was closed in 2003 by Kerr-McGee, a predecessor. Production at the plant was halted because the facility was no longer economically viable and couldn't meet environmental regulations, officials said.

The deal is expected to close on June 15 and shares of New Tronox would be listed on the New York Stock Exchange on June 18.